Slaughter and May announces reduced year-end bonuses
Slaughter and May has announced that it intends to pay end of year bonuses to all associates, trainees and support staff, but that it will be reducing the amount of the bonuses compared to last year.
This is the second consecutive year that onus awards have been reduced. This year associates will receive 5% of salary, down from last year's 8%. Trainees will take home a bonus of 2.5%, down from 4%. And support staff will receive a bonus of 2.5%, down from 3% last year. .
The waning bonus won’t come as a huge shock to the firm’s employees, following the firm’s announcement of that it intends to cut twenty eight secretarial roles by the end of the year, and the news that associates have been transferred out of a quiet corporate department to other parts of the firm.
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